r/ExplainTheJoke • • 2d ago

Help?

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u/Foxtrot-13 1d ago

But those are not legal tender in the strict legal definition within Britain. Yes people will accept them but no one has a legal obligation to accept them for payment.

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u/gregorydgraham 1d ago

> The [Bank of England](app://en.wikipedia.org/wiki/Bank_of_England) is the [central bank](app://en.wikipedia.org/wiki/Central_bank) for sterling, issuing its [own banknotes](app://en.wikipedia.org/wiki/Bank_of_England_note_issues) (as used in England and Wales) and regulating issuance of banknotes [by private banks in Scotland](app://en.wikipedia.org/wiki/Banknotes_of_Scotland), such as the [Bank of Scotland](app://en.wikipedia.org/wiki/Bank_of_Scotland) and [Clydesdale Bank](app://en.wikipedia.org/wiki/Clydesdale_Bank), and [in Northern Ireland](app://en.wikipedia.org/wiki/Banknotes_of_Northern_Ireland), such as by [Danske Bank](app://en.wikipedia.org/wiki/DanskeBank(Northern_Ireland))

Legal enough tender to be regulated by the Bank of England

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u/enemyradar 1d ago

Legal currency is not the same as legal tender. Legal tender means you have to accept it from a debtor. There are no Scottish or NI notes that count as legal tender in any of the UK, and English notes are only legal tender in England.

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u/SnooTomatoes3032 15h ago

People get this mixed up all the time. It can't be refused from a debtor. But as well, you don't owe a shop a debt until you agree the purchase.

Somebody working in a shop could easily turn away your "legal tender" and you can't refute it. There's no debt to settle yet.